******** Escalation of Loan Balance & Failure to Respond

Capitec Bank,

I am writing to express my absolute outrage at the complete lack of accountability, transparency, and professionalism regarding my personal loan account, which an Debt Review company is paying on my behalf. Your actions are not only *********—they are potentially ******** and may constitute a breach of the National Credit Act.

Let’s be clear: A principal debt of R108,000 was being serviced through a registered debt counsellor.

For over 48 months, I made regular payments, and the balance was reduced to R69,000. Without ANY valid explanation, you unilaterally inflated my loan back up to R154,000. I continued paying, yet saw no reduction in the inflated debt of R154,000 for months.

By March 2025, the balance reflected only R137,000, and once again—without consent or notice—it was escalated to R172,000. This is not just gross financial mismanagement—it borders on predatory lending.

Furthermore, on March 17, my debt counsellor submitted an official enquiry to your offices. I followed up on March 19 personally. And now, over a month later—not a single response. No feedback. No communication. Just silence and ghosting.

Are your email addresses even active? Or is this a deliberate tactic to stonewall clients?

*** ***, CCS Debt Review Payment Queries ***, *** ***

Let this serve as formal notice: If I do not receive a detailed written explanation, a breakdown of the charges app****, and a full reconciliation of my account within 7 working days, I will have no choice but to escalate this matter. This includes:

Lodging a formal complaint with the National Credit Regulator (NCR) Reporting this to the Ombudsman for Banking Services

Seeking legal representation for damages and misrepresentation

Capitec, you are not above accountability. I expect urgent and decisive action, or I will pursue every legal avenue available to ensure justice is served.

I await your response.